Accenture Forecast Sends Stock Tumbling a Record 20% (2)

Accenture Plc said it’s expecting to reel in less revenue in the coming months, as artificial intelligence upends the consulting services industry and clients paused business due to the conflict in the Middle East.

The company reported a 2% drop in new bookings for the quarter ended May 31, according to a statement Thursday. It forecast revenue of between $17.75 billion and $18.4 billion in the three months through August, falling short of the $18.47 billion Bloomberg-compiled analysts had anticipated.

Accenture shares tumbled 20% in early trading in New York, marking their worst one-day drop on record.

Investors have ...